Sometimes being the most powerful person in an industry means facing the greatest scrutiny. For Mary Callahan Erdoes, running one of the most reliably profitable businesses at the country's largest banking company now means weathering part of the regulatory storm sweeping over JPMorgan Chase.

Erdoes has spent the past four years as head of the company's asset-management division, which handles more than $2 trillion in assets for its wealthiest customers. Her division frequently appears on lists of top money managers, and has been a steady source of profit for the parent company at a time when most in the banking industry are struggling for reliable returns.

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